TRON DAO has announced the integration of PayPal USD (PYUSD) as a permissionless token on its blockchain through LayerZero’s technology, marking a significant expansion of the stablecoin’s reach across decentralized networks. This cross-chain interoperability initiative enables PYUSD to function seamlessly as PYUSD0 on TRON, leveraging LayerZero’s Omnichain Fungible Token standard to maintain full fungibility across blockchains without requiring user action. The collaboration strengthens TRON’s position as a global settlement layer for stablecoin transactions while advancing the vision of borderless financial markets.
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PayPal USD Stablecoin Expands to TRON via LayerZero
PayPal USD (PYUSD) has officially launched on the TRON blockchain as a permissionless token through LayerZero’s cross-chain technology, marking a watershed moment for stablecoin interoperability. This strategic integration, announced by TRON DAO from Geneva, Switzerland, brings together PayPal’s digital payments expertise, TRON’s massive blockchain infrastructure, and LayerZero’s omnichain capabilities to create a unified, borderless financial ecosystem. The move represents one of the most significant cross-chain stablecoin deployments to date, potentially reshaping how digital dollars move across blockchain networks.
read moreMantle (MNT) Hits $1.65 ATH on Bybit Partnership Surge
Mantle’s native token MNT reached a record $1.65 on September 11th, marking an 18% gain in 24 hours and 65% monthly increase. The rally is primarily driven by the ‘MNT x Bybit 2.0’ initiative, which introduced 21 new trading pairs and a HODL & Earn campaign with a 60,000 XUSD reward pool. Trading volumes surged dramatically, with spot volume up 41% to $655 million and futures volume more than doubling. While technical indicators remain bullish with moving averages trending upward, warning signs emerge as RSI exceeds 70 and CCI tops 300, suggesting potential pullback risk. Mantle’s future depends on sustaining demand from Bybit’s expansion and its omnichain integration via LayerZero, though analysts caution about possible corrections to $1.22-$1.36 support levels.
read moreHoskinson: Ethereum’s L2 Strategy Dooms Base Chain
In a comprehensive interview, Cardano founder Charles Hoskinson presents a structural critique of Ethereum’s scaling approach, arguing that the network’s dependence on layer-2 solutions creates fundamental economic vulnerabilities. He asserts that rollup teams have no inherent loyalty to Ethereum and could migrate to other chains if better opportunities arise, gradually eroding Ethereum’s network effects. Hoskinson identifies two major external threats: Bitcoin DeFi’s potential emergence as a ‘sleeping giant’ that could attract institutional capital, and major tech companies building their own infrastructure independent of Ethereum. He also suggests technological trends toward off-chain computation and zero-knowledge proofs may reduce the need for shared-state blockchains. While acknowledging Ethereum’s technical achievements and resilience, Hoskinson believes its very success with L2s undermines the economic importance of its base layer.
read moreEthena Proposes BlackRock-Backed USDH for Hyperliquid
Ethena Labs submitted a proposal on September 9 to issue Hyperliquid’s native stablecoin USDH, backed entirely by BlackRock’s USDtb stablecoin through institutional partnerships with Anchorage Digital and Securitize. The proposal commits to returning 95% of net revenue to the Hyperliquid community and includes a $75 million incentive program for market development. Competing proposals from Paxos, Frax Finance, Agora, and Sky offer alternative backing models, with the final selection requiring community governance approval and a gas auction. The transition could generate $220 million in additional annualized revenue for HYPE holders while reducing Circle’s USDC supply by 7%, leveraging Ethena’s experience managing over $23 billion in tokenized assets.
read moreWormhole Challenges LayerZero’s $110M Stargate Bid
The Wormhole Foundation has publicly challenged LayerZero’s $110 million acquisition bid for cross-chain protocol Stargate, calling the offer ‘unreasonably low’ and not compelling. This comes after LayerZero updated its bid on Sunday to better community reception following an initial failed attempt in August. Wormhole claims it deserves a more competitive bidding process and is prepared to submit a ‘meaningfully higher bid’ for Stargate, which facilitates asset transfers between different blockchain networks. The acquisition battle highlights the strategic value of cross-chain infrastructure in the evolving DeFi ecosystem.
read moreWormhole Challenges LayerZero’s $110M Stargate Bid
Wormhole Foundation has countered LayerZero’s proposed $110 million acquisition of Stargate Finance, claiming the offer undervalues the protocol. LayerZero’s bid, announced August 10, offers $0.1675 per STG token through a ZRO token swap. Wormhole cites Stargate’s $92 million treasury ($76M in stablecoins, $16M in ETH) and strong performance—$4 billion July bridge volume (10x YoY growth) and $348M TVL across 80+ chains. The acquisition requires STG holder approval with a 70% threshold and 1.2M veSTG quorum. LayerZero defends its pricing as premium-based and positions the deal as ecosystem consolidation, while Wormhole proposes combining Stargate’s liquidity with its integration ecosystem for higher volumes and revenues.
read moreWyoming Launches First US State-Issued Stablecoin FRNT
Wyoming has introduced the Frontier Stable Token (FRNT), becoming the first US state to issue a government-backed stablecoin. Each FRNT token is fully collateralized by US dollars and short-term treasury securities held in trust, ensuring security and transparency. Powered by LayerZero technology, FRNT will operate across seven blockchain networks including Ethereum, Solana, and Polygon. The token will be listed on Kraken’s Solana platform, with Raincards enabling Avalanche-based transactions. Governor Mark Gordon emphasized this move reinforces Wyoming’s commitment to financial innovation and consumer protection. FRNT enters a $285 billion stablecoin market dominated by private issuers like Tether and Circle, amid growing regulatory scrutiny and traditional financial institution interest in digital currency offerings.
read moreWyoming Launches First State-Backed Stablecoin on 7 Blockchains
Wyoming’s Frontier Stable Token (FRNT) has officially launched across seven blockchain networks including Ethereum, Solana, and Avalanche, marking the first state-issued stablecoin in the U.S. Unlike private stablecoins from companies like Tether and Circle, FRNT is backed by cash and U.S. Treasuries with interest generated going to Wyoming’s School Foundation Fund quarterly. The token operates as a ‘constitutionally-protected public asset’ exempt from recent federal stablecoin regulations due to Wyoming’s sovereign status. Built using LayerZero’s technology, FRNT could theoretically expand to over 110 networks and may eventually offer yield to holders, though this feature is still in development. The project has faced criticism from some conservatives who compare it to a CBDC, but officials emphasize it cannot be issued like central bank currency and will protect constitutional rights including Second Amendment protections.
read moreAPU Memecoin Launches on Hyperliquid for Spot Trading
Apu Apustaja (APU), a decentralized memecoin, has expanded its reach by listing for spot trading on Hyperliquid, a leading on-chain orderbook exchange handling billions in daily volume. Unlike synthetic assets, APU maintains native supply integrity via a direct Ethereum-to-Hyperliquid bridge, enabling immediate spot trading without a perpetual-only phase. The deployment, completed in under three weeks under Director of Operations Alexander Levin Jr., leverages LayerZero’s cross-chain infrastructure. Hyperliquid’s institutional-grade platform offers high throughput and deep liquidity, positioning APU for broader accessibility. The memecoin is now natively available on Ethereum, Solana, Base, and Hyperliquid, with FlowDesk ensuring price parity across chains. This move aligns with APU’s multi-chain ecosystem vision, driven by community participation and interoperable DeFi infrastructure.
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